Wednesday, 18 October 2017 07:10 AM
LONDON, UK / ACCESSWIRE / October 18, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for KBR, Inc. (NYSE: KBR), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=KBR. The Company announced on October 16, 2017, that is has signed a definitive agreement to acquire Sigma Bravo Pty Ltd. The acquisition marks KBR'S entry into classified work in Australia. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Following the acquisition, Sigma Bravo will become a part of KBRwyle, the global government services business of KBR and will maintain its current structure to ensure business continuity.Other details of the acquisition remain undisclosed
Acquisition to Provide KBR with Relevant Capabilities to Augment its Current Government Services Business in Australia
Commenting on the acquisition, Stuart Bradie, President and Chief Executive Officer of KBR, stated that Sigma Bravo is a highly respected Company providing valuable services to the ADF. the acquisition will provide KBR with important and highly relevant capabilities to augment its current Government Services business in Australia.
Stuart further added that the transaction reinforces KBR's Government Services strategy to grow and enhance its high-end technology and science-driven services that will help to drive longer-term revenue visibility and higher value.
KBR's Series of Acquisition From 2016
KBR's subsidiary Acquired MEI Group, LLC: In November 2016, KBR's subsidiary, Brown & Root Industrial Services, LLC, acquired the MEI Group, LLC, a White Castle, Louisiana based full-service turnaround specialist for industrial facilities. With the acquisition of MEI, Brown & Root Industrial Services added more than 8,500 employees across 31 locations across the country, significantly expanding its turnaround, specialty welding, construction, and fabrication services.
Acquisition of Honeywell's Government Services Provider, HTSI: On August 12, 2016, KBR entered into a definitive agreement to acquire Honeywell Technology Solutions, Inc. (HTSI), a leading professional, technical, and mission support services organization providing an array of mission-critical services and customized solutions throughout the world primarily to US government agencies.
KBR Acquired Government Services Company, Wyle: On July 5, 2016, KBR completed the acquisition of Wyle, Inc. for $570 million after adjustments for approximately $30 million of acquired tax benefits.
Dividend Declaration
On October 11, 2017, KBR announced that its Board of Directors has declared a quarterly cash dividend of $0.08 per share on the Company's common stock, par value $0.001 per share. The dividend would be payable on January 15, 2018, to stockholders of record on December 15, 2017.
About KBR, Inc.
KBR, Inc. (formerly Kellogg Brown & Root) is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide, with customers in more than 80 countries, and operations in 40 countries, across 3 synergistic global businesses.
About Sigma Bravo
Founded in 1999, Sigma Bravo is a specialist provider of ICT (Information and Communication Technology) services focused specifically on aviation operations, mission planning and information management. The Company's team capabilities include Project Management, Avionics Systems, ICT Support Services, Software Development, User Interface Design, and Computer Based Training. Sigma Bravo is based in Phillip ACT, Australia.
Last Close Stock Review
KBR, Inc.'s share price finished yesterday's trading session at $18.49, advancing 1.09%. A total volume of 2.26 million shares have exchanged hands, which was higher than the 3-month average volume of 1.84 million shares. The Company's stock price rallied 18.30% in the last three months, 25.61% in the past six months, and 26.99% in the previous twelve months. Additionally, the stock surged 10.78% since the start of the year. Shares of the Company have a dividend yield of 1.73% and currently have a market cap of $2.67 billion.
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